Wolfe Research Initiates Coverage on Eli Lilly and Company (NYSE:LLY)

Wolfe Research assumed coverage on shares of Eli Lilly and Company (NYSE:LLY) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $1,000.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial lifted their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Guggenheim boosted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Citigroup raised their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Wells Fargo & Company upped their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Barclays decreased their price objective on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $727.57 on Friday. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The firm’s fifty day moving average is $879.04 and its 200 day moving average is $870.84. The company has a market cap of $690.70 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 2.82 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Trading of Eli Lilly and Company

Several hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its position in shares of Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after purchasing an additional 1,620 shares in the last quarter. M&G Plc purchased a new position in Eli Lilly and Company during the 1st quarter worth $8,896,000. Jupiter Asset Management Ltd. increased its position in Eli Lilly and Company by 65.8% during the 1st quarter. Jupiter Asset Management Ltd. now owns 20,412 shares of the company’s stock valued at $15,880,000 after buying an additional 8,101 shares in the last quarter. Acadian Asset Management LLC raised its stake in Eli Lilly and Company by 6.6% in the first quarter. Acadian Asset Management LLC now owns 36,897 shares of the company’s stock valued at $28,699,000 after buying an additional 2,289 shares during the last quarter. Finally, Patten & Patten Inc. TN boosted its holdings in Eli Lilly and Company by 6.7% in the first quarter. Patten & Patten Inc. TN now owns 16,686 shares of the company’s stock worth $12,981,000 after acquiring an additional 1,051 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.